THE president of the Limerick Chamber of Commerce Kieran MacSweeney received a pay-off of $460,301 (€347,660) on stepping down as managing director of a Shannon-based IT firm last year.

Avocent Corporation (NASDAQ: AVCT), a global provider of KVM switching and network connectivity appliances, has acquired the former Tellabs facility at Shannon, Co. Clare, where it will continue to develop its international headquarters.

Avocent Corporation has announced that it has shipped its first OEM consignment of its KVM over IP(TM) switching system to IBM.